Ramelius Resources Limited ASX:RMS

Transcription

1 Ramelius Resources Limited ASX:RMS Diggers & Dealers 3-5 August 2015

2 Ramelius Resources Limited Diggers and Dealers - August Forward Looking and Competent Persons Statements Forward Looking Statements This presentation contains certain forward looking statements with respect to Ramelius financial condition, results of operations, production targets and other matters that are subject to various risks and uncertainties. Actual results, performance or achievements could be significantly different from those expressed in or implied by those forward looking statements. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are beyond the control of Ramelius that may cause actual results to differ materially from those expressed in the forward looking statements contained herein. Ramelius Resources Limited gives no warranties in relation to the information and statements within this presentation. Competent Persons Statement The Information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Kevin Seymour (Exploration Results), Rob Hutchison (Mineral Resources) and Mark Zeptner (Ore Reserves), who are Competent Persons and Members of The Australasian Institute of Mining and Metallurgy. Kevin Seymour, Rob Hutchison and Mark Zeptner are full-time employees of the company and have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Kevin Seymour, Rob Hutchison and Mark Zeptner consent to the inclusion in this report of the matters based on their information in the form and context in which it appears. Production Targets Production targets presented for Vivien and Kathleen Valley projects contain Inferred Resources. For details covering the Mineral Resource and Ore Reserve classifications and proportions relating to the production targets refer to slide 26. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

3 Ramelius Resources Limited Diggers and Dealers - August Corporate Summary Capital Structure (as at 30 Jun 15) Shares on Issue Listed Options (@ 12c expiry Aug 15) Market Cap Cash & Gold Corporate Debt Enterprise Value 469M 51M A$54.0M A$36.3M Nil A$17.7M Board & Management Robert Kennedy Non Executive Chairman Mark Zeptner Managing Director Kevin Lines Non Executive Director Mike Bohm Non Executive Director 6 Month Trading Range A$ $0.15 Share Price v Gold Index Significant Shareholders (as at 30 Jun 15) Sprott Asset Management 7.2% Board & Management 2.8% Dimensional Fund Advisors 1.5%

4 Ramelius Resources Limited Diggers and Dealers - August The Investment Case Australia s next 100koz p.a gold producer Capital Position Operations Upside

5 Ounces Ramelius Resources Limited Diggers and Dealers - August g/t Au Production Targets - FY2016 Utilising Checker gold mill at Mt Magnet (1.7Mtpa capacity) Increasing grade & gold production Quarter on Quarter, >100koz run rate from Mar 2016 Qtr FY Group Production Profile 40, , , ,000 20,000 15,000 10,000 5, Mossbecker Saturn, Mars & Percy 1.9 Mossbecker Percy Mossbecker & Yellow Aster Percy Mossbecker & Yellow Aster Vivien Percy & Brown Hill Kathleen Valley Vivien Mt Magnet Head Grade 0 SEP 2015 QTR DEC 2015 QTR MAR 2016 QTR JUN 2016 QTR 0.0

6 Ounces Ramelius Resources Limited Diggers and Dealers - August A$/oz Production Targets - 3 Year Plan * Vivien & Kathleen Valley gold projects commenced Q4 FY2015 Combines with Mt Magnet over next 3 years using primarily Ore Reserves (92%) 140,000 RMS - Group Production Profile 1,250 1, , ,000 80,000 Coogee Mossbecker & Yellow Aster Yellow Aster 1,000 Vivien 1,100 Nil Desperandum Vivien extensions Vivien 1, Coogee Kathleen (Resources)⁵ Kathleen (Reserves) Vivien (Resources)³ 60,000 40,000 20,000 Saturn & Mars Vivien Percy & Brown Hill Titan & Water Tank Hill Morning Star & Satellites Vivien (Reserves) Mt Magnet (Reserves) AISC 0 FY2015 FY2016 FY2017 FY *Note: FY2018 Production targets for Vivien & Kathleen Valley contain Inferred Resources, refer to slide 26 for further details

7 Ramelius Resources Limited Diggers and Dealers - August Capital Management - Forward Gold Sales RMS Forward A$1,570/oz 2 Year average A$1,440/oz

8 Ramelius Resources Limited Diggers and Dealers - August Operations & Development Projects Blackmans Gold Project Kathleen Valley Gold Mine Resource Tonnes 490kt Resource 163koz Resource Grade 2.5g/t Reserve 56koz Resource Ounces 39koz Life 1.5 years Mt Magnet Gold Mine Capacity 1.7Mtpa Resource 1.9Moz Capex AISC UCF* A$1.5M A$936/oz A$27.8M Reserve 326koz Life 4 years Capex p.a A$1.5M AISC A$1,320/oz UCF* A$54M Burbanks Treatment Plant Vivien Gold Mine Resource 184koz Reserve 101koz Life 3 years Capex A$16.3M AISC A$990/oz Capacity 180ktpa UCF* A$37.1M C&M Dec 2014 Options Toll treatment & leasing *Undiscounted Cash A$1,500/oz

9 Operations - Mt Magnet Gold Mine Focus on Saturn and Mars open pits in FY15 Saturn pit 190m deep, 210m at base Remaining grade 1.8g/t Mined Sep Sep 2015 Mars pit 130m deep, 140m at base Remaining grade 1.8g/t Mined Sep 2011 Aug 2015 Transition to Percy pit for FY16 Commenced Jan 2015, 35m deep Average grade 1.9g/t 8:1 strip ratio Ramelius Resources Limited Diggers and Dealers - August

10 Milled Tonnes (t) Head Grade (g/t) Gold Production (oz) Ramelius Resources Limited Diggers and Dealers - August Costs A$/oz Operations - Mt Magnet Gold Mine Mt Magnet Milled Tonnes & Head Grade Mt Magnet Gold Production & Costs 700, , ,000 22,500 20,000 SAG mill repairs Ball mill motor 2,000 1,800 1, , ,500 1, , ,000 1,200 12,500 1, , , , , , , , Milled Tonnes (LHS) Head Grade (RHS) Fine Gold Production (oz) - LHS C1 - Cash Cost (A$/oz) - RHS AISC (A$/oz) - RHS

11 Ramelius Resources Limited Diggers and Dealers - August Operations - Kathleen Valley Gold Mine 1 st Sep Acquisition completed Nov Infill drilling completed Jan Upgraded Mineral Resource: 2.8g/t for 163,000oz⁴ Jan Maiden Ore Reserve: 4.1g/t for 56,000oz⁵ Jun 2015 Mining commenced Sep 2015 Qtr Start ore haulage

12 Ramelius Resources Limited Diggers and Dealers - August Operations - Kathleen Valley Gold Mine Physicals Mine Life Ore Reserve January years Mineral Resource 163koz 4 Ore Reserve 56koz 5 Grade 4.1 g/t Recovery 95.0% Recovered Ounces Financials Up Front Capital C1 Cash Cost AISC Total Cost (incl. Up Front) Cash A$1,400/oz Cash A$1,500/oz 53koz BFS February 2015 A$1.5M A$925/oz A$936/oz A$975/oz A$22.7M A$27.8M

13 Ramelius Resources Limited Diggers and Dealers - August Operations - Vivien Gold Mine July 14 - Acquisition & approvals completed Oct 14 - Updated BFS, improved financials Mar 15 - Preliminary surface works started May 15 A$10M facility secured (undrawn) Jun 15 - Decline commenced Nov 15 First ore mined Jan 16 Commencement of ore haulage

14 Ramelius Resources Limited Diggers and Dealers - August Operations - Vivien Gold Mine Physicals Mine Life Ore Reserve June years Mineral Resource 184koz 2 Mining Inventory 109koz 3 Grade 7.6 g/t Recovery 95.0% Recovered Ounces 104koz Financials Up Front Capital C1 Cash Cost Royalties AISC Total Cost (incl. Up Front) Cash A$1,500/oz Updated BFS Oct 2014 A$16.3M A$766/oz A$120/oz A$990/oz A$1,148/oz A$37.1M

15 Operations - Vivien Gold Mine Ramelius Resources Limited Diggers and Dealers - August

16 Ramelius Resources Limited Diggers and Dealers - August Development - Blackmans Gold Project Sep 14 - Secured 100% of Blackmans ML Jan 15 High grade intersections: 9m at 31.9 g/t Au 25m at 7.61 g/t Au 13m at 8.27 g/t Au Jun 15 - Maiden Resource: 2.5g/t for 39,000oz Sep 15 Targeting Maiden Ore Reserve 2016 Targeting permitting approvals

17 Ramelius Resources Limited Diggers and Dealers - August Development - Blackmans Gold Project Physicals Resource Tonnes Resource Grade Resource Ounces Resource June kt 2.5g/t 39koz

18 Exploration - Project Locations Ramelius Resources Limited Diggers and Dealers - August

19 Ramelius Resources Limited Diggers and Dealers - August Exploration - Mt Magnet (WA) Integrated all available geological/geochemical/geophysical datasets Produce a detailed 3-D litho-structural model 1,000mbs Includes integrating regional seismic transect data along the Boogardie Road (data source: Geoscience Australia) 3-D distribution of known >1.0 g/t Au intersections from drilling shown on RHS in yellow below

20 Ramelius Resources Limited Diggers and Dealers - August Exploration - Mt Magnet (WA) 3-D inversion modelling of gravity & magnetic data Potential for large bulk tonnage resource opportunities within felsic porphyry units Including below the historic Milky Way pit

21 Ramelius Resources Limited Diggers and Dealers - August Exploration - Kathleen Valley (WA) Boris Zone - looking for repetitions at depth / extensions below Mossbecker pit Cross section (through Mossbecker) Long section (looking east)

22 Ramelius Resources Limited Diggers and Dealers - August Exploration - Tanami JV (NT) 1,700km 2 of prospective geology Earn-in 85% Tychean (ASX: TYK) Within 100km; Newmont s 4.5Moz Callie Gold Mine Granites Treatment Plant Highland Rocks ELs grants pending Initial focus has been walk-up drill target over Suplejack EL

23 Ramelius Resources Limited Diggers and Dealers - August Exploration - Tanami JV (NT) RC drilling over Suplejack infilled to 250m centres Plus 10ppb Au interface geochem anomaly sits at base of post mineralising basalt cover (60mbs) Anomaly extends over 2km & remains open to the south within broader fold closure & WNW fault zone Deeper drill testing further south Sept 2015 Quarter

24 Ramelius Resources Limited Diggers and Dealers - August Key Forward Strategy 1. Focus on capital management 2. Profitable operations 3. High margin asset discovery * AISC represents All-In Sustaining Costs as per the World Gold Council guidance

25 Thank you Contact details: Mark Zeptner Managing Director Phone reception@rameliusresources.com.au Website Ramelius Resources Limited Diggers and Dealers - August

26 Ramelius Resources Limited Diggers and Dealers - August Production Targets, Mineral Resources & Ore Reserves Note ¹ All Mt Magnet Production targets are based on Ore Reserves only. For detailed information relating to Mt Magnet Mineral Resources and Ore Reserves see ASX release (RMS) 3 Sept 2014, Resources and Reserves Statement. ² For detailed information relating to Vivien Mineral Resources see ASX release (RMS) 3 Sept 2014, Resources and Reserves Statement. ³ Vivien Production Target based on Ore Reserves plus a small proportion of Inferred Mineral Resource (16% oz). For detailed information relating to Vivien Mining Inventory and Ore Reserve see ASX release (RMS) 30 May 2014, Vivien Gold Mine Feasibility Completed. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met. ⁴ For detailed information relating to Kathleen Valley Mineral Resources see ASX release (RMS) 19 Jan 2015, Maiden Ore Reserve boosts Kathleen Valley Gold Project. ⁵ Kathleen Valley production target based on Ore Reserves plus a small proportion of Inferred Mineral Resource (15% oz). For detailed information relating to the Ore Reserve see ASX release (RMS) 19 Jan 2015, Maiden Ore Reserve boosts Kathleen Valley Gold Project. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met. The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

27 Mineral Resource Statement Deposit MINERAL RESOURCES AS AT 30 JUNE INCLUSIVE OF RESERVES Measured Indicated Inferred Total Resource Tonnes Au Au Tonnes Au Au Tonnes Au Au Tonnes Au Au ('000s) g/t Oz ('000s) g/t Oz ('000s) g/t Oz ('000s) g/t Oz Galaxy 1, ,000 6, ,000 4, ,000 12, ,000 Morning Star 1, , , ,000 Total major deposits 1, ,000 8, ,000 4, ,000 14, ,000 Bartus Group , , , ,000 Boomer 1, , ,000 1, ,000 Britannia Well , ,000 Bullocks , , ,000 Eastern Jaspilite , , , ,000 Eclipse , , ,000 Golden Stream , ,000 Hill , ,000 Lone Pine , , , ,000 O'Meara Group , , ,000 Shannon , , , ,000 Spearmont - Galtee , , ,000 Stellar , , , ,000 Welcome - Baxter , , , ,000 Total satellite deposits ,000 3, ,000 2, ,000 6, ,000 Hill 50 Deeps , , ,000 1, ,000 Morning Star Deeps , , ,000 Saturn UG 1, ,000 1, ,000 St George UG , , , ,000 Water Tank Hill UG , , ,000 Total UG deposits ,000 1, ,000 2, ,000 4, ,000 Western Queen South , , ,000 Mt Magnet Stockpiles , , , ,000 Mt Magnet Total 2, ,000 14, ,091,000 9, ,000 26, ,925,000 Mossbecker , , ,000 Yellow Aster/Nils D , , ,000 Kathleen Valley Total , ,000 1, ,000 Coogee , , ,000 Vivien , , ,000 Other Deposits Total , , ,000 Total Resources 2, ,000 15, ,278,000 10, ,000 28, ,250,000 Note: Figures rounded to nearest 10,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur. For detailed information relating to Mt Magnet Mineral Resources see ASX release (RMS) 3 Sept 2014, Resources and Reserves Statement. No material change has occurred. Mineral Resource t g/t oz Mossbecker Indicated 463, ,000 Yellow Aster Indicated 156, ,000 Nil Desperandum Indicated 49, , , ,000 Mossbecker Inferred 186, ,000 Yellow Aster Inferred 759, ,000 Nil Desperandum Inferred 200, ,000 1,146, ,000 1,814, ,000 For detailed information relating to Kathleen Valley Mineral Resources see ASX release (RMS) 19 Jan 2015, Maiden Ore Reserve boosts Kathleen Valley Gold Project. Ramelius Resources Limited Diggers and Dealers - August Deposit Total Indicated Total Inferred Total Resource Deposit Category Mineral Resource t g/t oz Blackmans Indicated 361, ,000 Blackmans Inferred 129, ,000 Total Resource Category 490, ,000 For detailed information relating to Blackmans Mineral Resources see ASX release (RMS) 9 Jun 2015, Blackmans (Mt Magnet) - Maiden Resource & Exploration Update.

28 Ramelius Resources Limited Diggers and Dealers - August Ore Reserve Statement ORE RESERVE STATEMENT AS AT 30 JUNE 2014 Proven Probable Total Reserve Tonnes Au Au Tonnes Au Au Tonnes Au Au ('000s) g/t Oz ('000s) g/t Oz ('000s) g/t Oz Galaxy Pits Saturn , , ,000 Mars , , ,000 Titan , ,000 1, ,000 Perseverance , ,000 Brown Hill , ,000 Morning Star Cutback Morning Star , ,000 Satellite Pits Boomer , ,000 Lone Pine , ,000 O'Meara , ,000 Golden Stream , ,000 Underground Water Tank Hill , ,000 St George , , ,000 Stockpiles , ,000 1, ,000 Mt Magnet Total 1, ,000 3, ,000 5, ,000 Vivien , ,000 Total Reserves 1, ,000 4, ,000 5, ,000 Note: Figures rounded to nearest 10,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur. For detailed information relating to Mt Magnet Ore Reserves see ASX release (RMS) 3 Sept 2014, Resources and Reserves Statement. No material change has occurred. Pit Category Ore Reserve t g/t oz Mossbecker Probable 321, ,000 Yellow Aster Probable 97, ,000 Total 418, ,000 For detailed information relating to Kathleen Valley Mineral Resources see ASX release (RMS) 19 Jan 2015, Maiden Ore Reserve boosts Kathleen Valley Gold Project.